Here's what a Netflix and Warner Brothers merger could mean for horror fans

Though it's not a done deal yet and still requires government approval, Netflix's acquisition of Warner Brothers increasingly seems likely. Paramount Skydance went to Warner's shareholders directly as a last attempt to buy the company. However, according to multiple sources, Warner still plans to move forward with Netflix's offer and has urged shareholders to reject Paramount.

If Netflix does indeed acquire Warner, it will have a major impact on the Hollywood industry. This applies to the horror genre, considering Warner's popular IPs and massive film archive. Further, it'll likely change the theatrical experience.

Here are a few ways Netflix's potential acquisition of Warner could impact horror fans.

A Netflix/Warner merger could severely impact the theatrical experience

To be blunt about it, movie theaters aren't doing well. While Gen Z theater attendance was up in 2025, which is a major positive, theater attendance has been declining since COVID. Plenty of factors caused this. It's expensive to go see a movie, especially if you factor in snacks. Movies also move to streaming faster. People are choosing to watch a movie from the comfort of their home, sometimes just a few short weeks after its theatrical release.

Yet, movie theaters create a communal experience, and simply put, it's a heck of a lot of fun to see a horror movie in a theater, with a crowd. Yet, Netflix has never been keen on traditional theatrical windows. Two of their recent films and likely Oscar contenders, Train Dreams and Frankenstein, had incredibly limited theatrical releases. Neither film played in most theaters.

According to The Hollywood Reporter, Netflix CEO Ted Sarandos has vowed to keep releasing Warner Brothers movies in theaters with a traditional theatrical window. That is a positive, but if Netflix acquires Warner, how long will they keep such a promise? What will happen by 2030 or 2035? We don't know yet, and no one can predict the future, but Netflix built the streaming model. Why wouldn't the company prioritize what's worked so well for them?

Warner Brothers Studio Lot

Warner Brothers owns many popular horror franchise IPs

Warner Brothers has a treasure trove of rich and storied horror franchise IPs. This includes The Exorcist, It/Welcome to Derry, A Nightmare on Elm Street, The Conjuring universe, Gremlins, and Friday the 13th (via New Line). What will happen to all of these franchises should this Netflix/Warner merger happen?

It's likely that Netflix would continue moving forward with some of these properties since they're moneymakers. It's also likely that some of these properties will still remain dormant, at least for a while. I'm thinking of A Nightmare on Elm Street, for example. Yet, Netflix could decide to cancel future plans or create more spin-offs, like Welcome to Derry, which was a massive hit for HBO Max, a streaming service under the Warner umbrella.

Regardless, these are major franchises with long histories. Their fates would fall to Netflix, either for additional content or to sit on a shelf for a long while.

A Netflix/Warner merger could change and consolidate streaming

After Disney's acquisition of Marvel and Fox, they placed more and more of that content under Disney+, including Hulu. While Hulu still remains a separate streaming subscription, Disney+ is continually consolidating and encouraging customers to use Disney+ instead, which now features a lot of Hulu content, not to mention Star Wars, Marvel releases, and various other IPs they own.

While it's unlikely HBO Max would immediately move to Netflix, it's tough to see a longer future where that doesn't happen. Why would Netflix run multiple streaming services if they could house everything under Netflix, like Disney+ is starting to do with its various properties? This could mean that consumers pay more for upgraded packages.

It's increasingly likely that come the new year, Warner Brothers will fall under Netflix. In the short term, not much may change. In the long term, however, this merger would likely impact the theatrical experience, the theatrical window, and streaming services, which in turn, will impact horror fans. Stay tuned!